A Greenwich hedge fund, Plainfield Asset Management, who is being investigated by the Manhattan District Attorney, has recently lost its co-founder Niv Harizman.

News of Plainfield’s troubles with its corporate borrowers and the Manhattan D.A. was first reported by Katie Benner at Fortune Magazine. The Fortune story lists multiple lawsuits against Plainfield and says its borrowers are also working with the Manhattan D.A. over violations involving lending fraud. When the news broke in late January, Greenwich Timereported that the Connecticut Attorney General would look into Plainfield and determine if the fund had violated any laws that affected Connecticut investors. After the Fortune story was printed, Plainfield admitted it was cooperating with the D.A. on the investigation. No charges have been filed yet.

Harizman has started a new hedge fund called Tyto Capital Partners. At Plainfield, Harizman was the head of corporate finance. His LinkedIn profile states he is no longer with Plainfield. Questions are mounting if Harizman left over worry about the D.A. investigation into the fund he helped start and the unusual mafia like tactics its president Max Holmes has been taking in an attempt to silence borrowers who are working with the D.A. on its investigation.

A few weeks after the troubles at Plainfield were reported across the national media, it appears the executives at Plainfield got to work to try and cover its tail. According to a settlement agreement seen by this reporter between Plainfield and one of its borrowers, we learned the fund offered to dismiss litigation against the borrower if it signed an agreement that allowed Plainfield to control the flow of information the borrower gave the authorities. In fact, this borrower, who used Confidential Security and Investigations’ Robert Seiden to build its case against Plainfield, was also asked to fire Seiden and turn over all documents, names, phone numbers, and communications the private investigator had turned up about Plainfield. Plainfield even demanded the borrower get back any evidence the investigator had given to the media, regulators or government agencies and give it to the hedge fund.

According to the settlement, the hedge fund also wanted all communications to Benner at Fortune or the Watt Guerra Craft law firm, who according to people familiar with the situation is working on a class action suit against Plainfield.

Confidentiality agreements between parties who are suing each other are often requested in lawsuits, but what Plainfield tried to get signed borders on interference with a criminal investigation.

The settlement agreement reads under Agreement and Release 3(d):

If any person or entity requests or demands that [redacted borrower name] supply information regarding Plainfield, [they] will decline comment and refuse to provide any such information. If the inquiry is made under force of law (e.g., a subpoena), neither [borrower] will provide such information without first notifying Plainfield within 24 hours of receiving such inquiry and providing Plainfield with an opportunity to respond to the inquiry and participate in the crafting of any response by [borrower].

Ron Geffner, partner at Sadis & Goldberg, whose New York-based firm represents more than 600 hedge fund clients and was a former SEC enforcement lawyer, reviewed the language Plainfield used in the settlement agreement for this story.

Geffner told this reporter, “It looks like Plainfield received some bad legal guidance. First – It is highly unusual to ask a counterparty not to respond to a subpoena for information. Second – It is highly irregular for a counterparty to be required that their response be vetted by opposing party. Third – In most investigations it is bad form for information to be shared among witnesses and potential defendants because it exacerbates the investigation and creates an appearance of collusion.”

Plainfield executives did not respond to multiply request for comment over the nature of the settlement agreement. But I did receive an email from a person currently working for Plainfield that said, “Homes is livid, you and Benner have put some chinks in his armor. Narcissists like him don’t especially like it when they are called out in public. Where there is smoke, there is fire.”

This reporter spoke briefly with the borrowers’ attorney about the settlement but chose not to comment on the record from fear of retaliation by Plainfield. According to people involved in the transaction, the settlement is not signed and I am told the borrower would not consider signing such terms that silence him from speaking freely with a government investigator. Attorney General Richard Blumenthal was shown the settlement agreement, but would not comment on what he thought of a local billion dollar hedge fund trying to interfere with a government investigation.

Harizman did not return a request for comment. It will be interesting to see if Harizman can separate himself from the troubles at Plainfield and successfully raise money for his new hedge fund.

[This is a news report by Teri Buhl who is a freelance investigative journalist. Teri has written for: Trader Monthly, New York Post, Dealbreaker, Housingwire, The Mortgage Lender, and Greenwich Time.]

"Cityfile and I setteld the case Cablevision/ Jim Dolan brought against us and it was withdrawn. I admitted no wrong doing or fault in the story I published on the Rocketts. David McCumber knew about this suit before he offered me the job. There was a Gawker story published, under their Bullies section, that does a good job at explaining what happened."

It Is Hard To Belive, But There Are Problems At The Seaton Boyscout Camp.

Greenwich Roundup Has Not Heard The Drug Allegations Before Today, But He Is Aware Of And Has Access To Some Reports And Photos About Underage Drinking Parties At The Pool And Lions Lodge Involving Camp Ranger Scott Stewarts Son.

The Greenwich Boyscouts Quit Employing Mr. Stewarts Son For A While, Because Of The After Hours Teenage Drinking Parties.

Later Mr. Stewarts Son Was Rehired By The Greenwich BoyScouts.

Not much was Made Of These Late Night Seaton Underage Drinking Parties Because Greenwich Roundup Is Told That Mr. Stewart's Brother Is A Greenwich Police Officer.

Greenwich Scout Boss Mike Robertson Needs To Get A Handle On This Long Ignored And Dangerous Situation At The Seaton Boyscout Camp.

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Dravet syndrome fund-raiserGreenwich Post... family, and members of the medical field March 27 at the Hyatt Regency Greenwich, to raise money for research and awareness for Dravet syndrome. ...

Seton Day Camp, which is run by the Greenwich Boy Scout Association in Greenwich, runs a day camp which is held during the summer months of the year. This camp is viewed by many as a safe environment for their children, which in fact it is not one at all. The camp was previously run by Diane Warzoha, who had been in charge of the day camp for many years. While it looked like a good job was being done by her, it really was not. Counselors who were employed there, often threw parties in buildings at the day camp, which included underage drinking and heavy drug use. Then they would sleep over and get up and help the kids the next day. Steven Warzoha who was first selectman, Peter Tesei's campaign manager took part quite often in these activities, and still did as of last summer......

.....If your thinking of sending your child to Seton Day Camp, think again, or request to Mike Robertson, who is the Scout Executive for the Greenwich BSA that they all the counselors take drug tests,.....

Seton Day Camp, which is run by the Greenwich Boy Scout Association in Greenwich, runs a day camp which is held during the summer months of the year. This camp is viewed by many as a safe environment for their children, which in fact it is not one at all. The camp was previously run by Diane Warzoha, who had been in charge of the day camp for many years. While it looked like a good job was being done by her, it really was not. Counselors who were employed there, often threw parties in buildings at the day camp, which included underage drinking and heavy drug use. Then they would sleep over and get up and help the kids the next day. Steven Warzoha who was first selectman, Peter Tesei's campaign manager took part quite often in these activities, and still did as of last summer. The camps current director Bob Gunsten, who oversaw the camp this previous summer has taken no action against any illegal activities that occur at the camp. This past summer counselors would smoke marijuana during lunch and then would go back to helping children after. Steven Warzoha continued to be a big part of this, in fact he is related to a former narcotics officer in the Greenwich Police Department, Michael Grabarz. This problem at the day camp has gone on for quite some time, with no administrators taking any action because the camp is brings in a large amount of the revenue for the Greenwich Boy Scout Council. The drug use is not the only issue that plagues this camp. Counselors often yell at children who are there, for no justified reason, and some even ridicule them as well. At the previous summer season a counselor threw a water balloon at a child's head then thought it was okay , and his fellow co-workers backed him up that it was. If your thinking of sending your child to Seton Day Camp, think again, or request to Mike Robertson, who is the Scout Executive for the Greenwich BSA that they all the counselors take drug tests, or even Peter Tesei, who employs Steven Warzoha who is a big part of the problem. These issues will continue to plague the day camp while it is unnoticed by parents who bring their children there. Word to the wise, bring your child somewhere else for camp.

The Greenwich Public Elementary Schools have announced plans to welcome incoming - Fall 2010, kindergarten children and their parents. The District’s Kindergarten Orientation for parents is Monday, March 29, 2010 and is held at each of the eleven elementary schools. The specific times for the parent orientation program and dates/times for registration are listed by school. In addition, each of the eleven elementary schools holds a student visitation session on the afternoon of Thursday, May 6, 2010, from 1:00 PM to 3:00 PM; students registered for the kindergarten class of 2010-11 are invited to visit their school on this day. All schools will mail invitations for Kindergarten Visitation Day to families that have registered and/or are otherwise known to the schools as having incoming Kindergarten students. Parents/Guardians that have a child entering kindergarten in the Fall of 2010 who do not receive a letter from the school in their attendance district should contact that school office for information on this process. Children that turn five (5) by December 31, 2010 are eligible for Kindergarten.

Dear Greenwich Roundup,Teri Buhl is probably the best thing that has happened in a long time at the Greenwich Time. I hope she doesn't get fired for stepping on too many toes or copying too much from others!!

Name Witheld By Request

Comment:

Dear Name Witheld By Request,

Greenwich Roundup agrees that Ms. Buhl is a very good reporter.

Every now and then Hearst Newspapers editor David McCumber actually screws up and hires a reporter with talent.

I wonder how Ms. Buhl feels about working with the likes of Susie Costaregni AKA The DISH .....

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Big companies are awash in cash as economy picks up Los Angeles Times... question is what do they do with it," said Susan Sterne, an economist who heads Economic Analysis Associates in Greenwich, Conn. The U.S. economic recovery could be stunted unless a large share of that corporate wealth flows to average workers, ...

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Wilton women help plan fund-raiser The Wilton Bulletin... than 600 supporters attend the luncheon, which will be from 11:30 to 2 Thursday, April 8, at the Hyatt Regency in Greenwich. Tickets start at $250 and may be purchased by e-mailing This e-mail address is being protected from spambots. You need ...

Ned Lamont, Dannel Malloy On CCJEF Court Decision; Blumenthal Says... The Hartford CourantThe two leading candidates in the polls for the Democratic nomination for governor - Greenwich cable television entrepreneur Ned Lamont and former Stamford Mayor Dannel Malloy - are in favor of the Connecticut Supreme Court's ruling in the long-running funding battle by the Connecticut Coalition For Justice in Education Funding, known as CCJEF.

GHS driver finishes strong Connecticut PostKnowing that it was the final meet of his career for Greenwich High School , one of Mark O'Connell 's objectives entering Saturday's State Open diving finals was to go out in style.

Extended Stay makes $905 million deal Spartanburg Herald-Journal... for 2008. This month, the company accepted a $905 million offer from a consortium of investment firms led by Greenwich, Conn.-based Starwood Capital Group. The consortium includes TPG Capital in Fort Worth, Texas, and Five Mile Capital Partners in ...

Presstek shares down 7 cents on Monday News Times... Connecticut and is designed to reflect the impact of the world and national economy on this region. Blyth, a Greenwich-based maker of candles, home fragrance products and Sterno, gained 84 cents to close at $33.46. Gamco, a Rye, N.Y.-based provider ...

Seeking the Supergenius: The Life of a High-Frequency Trader Securities Industry... CEO of WorldQuant, LLC., one of the larger firms practicing high-frequency algorithmic trading. Headquartered in Greenwich, Conn., the company employs about 100 people and has a New York office, affiliate offices in Beijing and Bangalore and plans ...

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Elliott Associates pleased Novell is open to being acquired Deseret Morning News... software, haven't boosted sales fast enough to make up for the drop in NetWare orders. Blue Harbour Group, a Greenwich, Conn.-based investment firm that has a 4 percent stake in Novell, said over the weekend that it supported the board's decision to ...

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Ivy Weekly Women's Lacrosse Report 4 - 3/22 w/Photo Ivy League Sports... defense working the shutout, with three caused turnovers and four ground balls. Sophomore Taylor Gattinella (Greenwich, Conn.) led the Lions with five points to help Columbia to a 1-1 record last week. While she only took four shots, she made them ...

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